BUICK INVITATIONAL

February 11, 2004

C. J. Fraleigh

Larry Peck

Tiger Woods

PETE TERNES: Thanks for coming today. We have two things to get done in this brief press conference we're going to conduct. My name is Pete Ternes. I'm the public relations director for the Buick motor division. The first part of our press conference is a Buick announcement along with Tiger. Following that we'll do a brief Q&A focusing on that announcement, then we'll invite the PGA TOUR to come up with Tiger and conduct the regular post ProAm press conference that Tiger conducts.

With that I'd like to introduce Buick's new general manager of about a month now, CJ Fraleigh. Thank you.

C.J. FRALEIGH: Thanks, Pete. Thanks for coming, everybody. The relationship that we've had between Buick and Tiger has really been an extraordinary and great one. It's been, I think, kind of unique when you look at what superstar athletes and celebrities have had with big companies. It's been one that's been a true partnership. Tiger has been a true friend.

We've worked together on a number of initiatives, including the Tiger Woods Foundation. It's also been one that's been very successful with us. When Buick first ventured out of traditional passengers cars with the Rendezvous, Tiger was absolutely critical, and I think everyone remembers those TV commercials and other marketing, getting a lot of awareness, helping us out with to lot of sales. I think everyone here remembers Tiger trap which we ran on the Internet as well as television where Tiger was giving away our new sport utility vehicle Rainier to some unsuspecting and lucky golfers.

But at Buick right now, we are at an absolutely critical venture, critical point in our history, kind of similar to what we've started to do on Cadillac and Chevrolet, a number of our other divisions, we're really in the process of completely remaking our division.

As a company, General Motors is committed to over $3 billion in new product investment. And even in automotive terms, that's a huge amount of money. We're starting to see some of that new product come through. You'll see Rainiers all around the golf course here. Tiger was in a Lacrosse yesterday, which is a great new midsized vehicle.

We have a lot of other new product coming, product that will have the traditional Buick quality, that will be quieter, better power trains, better styling, than almost any other vehicle in its class. As a company, we've really committed to be remaking Buick.

But that leaves us with an interesting challenge. We have to tell not only people in this room but all of America how great our products are. I'm happy to announce that we've agreed to renew our relationship with Tiger through the end of 2009, so Tiger can both help us tell our story and introduce a lot of our great new products that are coming.

We're also expanding our relationship with the Tiger Woods Foundation. So both on a commercial and charitable venture, we're very excited about the partnership we've had, and where we're going.

Thank you, Tiger.

TIGER WOODS: Well, this is pretty exciting, to be able to be a part of a wonderful brand like GM, and specifically Buick, and to have an opportunity to basically reshape what Buick is. From my days with mom driving her Buick, it was always thought to be one for my mom or my grandmother, you know, my dad and his father. So it's pretty neat to be able to make it younger, more hip, more modern, more contemporary.

It's pretty neat to also do these commercials we've didn't doing, too, be able to showcase to all of you not only our wonderful product but also a different side of my personality that you probably don't know, some of you guys here do know. You know I'm kind of like that, but just the general public doesn't really get to see that very often. So it was pretty neat for me as well as Buick.

So I'm excited about the next all the way up to 2009. That's a long time, isn't it? Hopefully I'll still be on tour and still have my card. Thanks, guys.

PETE TERNES: Thanks, Tiger. What we'd like to do for the Q&A portion of announcement is we have two microphones in the audience. If you could, raise your hand and we'll get the microphone over to you so we can ask the questions.

Q. How much is the new deal worth?

LARRY PECK: It's a great deal for both Tiger and Buick.

Q. Tiger, how often do you actually drive a car? It seems like you'd just be flying from tournament to tournament around the world, being at resorts and playing golf?

TIGER WOODS: You know, that's a good point. People don't realize this, I don't know if you guys know this, a lot you guys do know this, I hate being driven. I go to different cities and either rent a car or get a Buick or whatever it may be, but I like to drive myself. That's just one of my deals.

I feel very uncomfortable being in limos. It's just a very uncomfortable feeling. I like being more in control than that. So, yeah, I'm always driving no matter what.

Q. Does the support you guys are giving the foundation and learning center, how many years is that for? Does it go through 2009 and how much is it?

PETE TERNES: It coincides with the contract we have with Tiger through December 31st of '09. We've had a great relationship with the Tiger Woods Foundation in the past through Tiger Jam and some annual contributions. What we're doing is basically just extending that and increasing the support.

Q. Is there a percentage figure? More going to the foundation than the learning center? How does that work?

PETE TERNES: One of the major initiatives of the Tiger Woods Foundation, I see Greg in the room, is the learning center. There's a considerable amount of support towards the learning center now as we go forward.

Q. Mr. Fraleigh, given this relationship now goes through '09 and you sponsor PGA TOUR events, how much would you like to see Tiger at some or all of your events? Is there an arrangement there to play a certain amount of Buick sponsored events?

C.J. FRALEIGH: Well, that would be, you know, a pay-for-play which we can't do. I mean, we love when Tiger plays in all of our events. You know, I think in an event like this, you enjoy playing, too. So we like to see that as much as possible, but it's got to be right for Tiger's schedule, as well.

We're very much in golf. Tiger is front and center. He's the showcase of that. The tournaments are important for that. When it works together, it's more important for us?

Q. That's not in the contract?

C.J. FRALEIGH: No.

PETE TERNES: With that, we'd like to have you guys pose for a photo. After that I'd like to invite Joel to the stage so we can conduct the PGA portion.

Following this presentation, we'll be moving to the other media room for another press conference.

End of FastScripts.